OMERS ADMINISTRATION Corp Boosts Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

OMERS ADMINISTRATION Corp lifted its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 19.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 422 shares of the bank’s stock after acquiring an additional 70 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in First Citizens BancShares were worth $892,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of FCNCA. Financial Life Planners purchased a new position in First Citizens BancShares in the fourth quarter valued at $33,000. Hemington Wealth Management increased its holdings in First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after buying an additional 6 shares during the last quarter. Duncker Streett & Co. Inc. purchased a new position in First Citizens BancShares in the fourth quarter valued at $36,000. Mather Group LLC. increased its holdings in First Citizens BancShares by 38.5% in the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after buying an additional 5 shares during the last quarter. Finally, Asset Planning Inc purchased a new position in First Citizens BancShares in the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

Shares of FCNCA opened at $1,953.58 on Friday. First Citizens BancShares, Inc. has a fifty-two week low of $1,473.62 and a fifty-two week high of $2,412.93. The company has a market capitalization of $25.96 billion, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. The firm has a 50-day simple moving average of $1,784.78 and a 200-day simple moving average of $2,008.87. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share for the quarter, topping the consensus estimate of $37.72 by $0.07. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.22 billion. On average, equities research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a dividend of $1.95 per share. The ex-dividend date is Friday, May 30th. This represents a $7.80 annualized dividend and a dividend yield of 0.40%. First Citizens BancShares’s dividend payout ratio (DPR) is 4.47%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FCNCA. Keefe, Bruyette & Woods raised their price objective on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Truist Financial raised their price objective on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. TD Cowen began coverage on First Citizens BancShares in a report on Thursday. They set a “buy” rating and a $2,400.00 price objective on the stock. StockNews.com lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Monday, April 28th. Finally, Barclays dropped their price objective on First Citizens BancShares from $2,568.00 to $2,400.00 and set an “equal weight” rating on the stock in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, First Citizens BancShares has a consensus rating of “Moderate Buy” and an average price target of $2,336.58.

Insider Transactions at First Citizens BancShares

In other news, CFO Craig L. Nix acquired 17 shares of First Citizens BancShares stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the transaction, the chief financial officer now directly owns 1,141 shares in the company, valued at approximately $2,146,369.33. This trade represents a 1.51% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frank B. Holding, Jr. acquired 350 shares of First Citizens BancShares stock in a transaction that occurred on Friday, May 2nd. The stock was purchased at an average price of $1,610.00 per share, with a total value of $563,500.00. Following the transaction, the chief executive officer now owns 2,758 shares of the company’s stock, valued at $4,440,380. This trade represents a 14.53% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 13.40% of the company’s stock.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals. The company's deposit products include checking, savings, money market, and time deposit accounts.